ECOWAS: Market for Cotton (Carded Or Combed) 2024

Market Size for Cotton (Carded Or Combed) in ECOWAS

The ECOWAS cotton (carded or combed) market amounted to $X in 2022, surging by X% against the previous year. In general, consumption enjoyed significant growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Cotton (Carded Or Combed) in ECOWAS

In value terms, cotton (carded or combed) production stood at $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Cotton (Carded Or Combed)

Exports in ECOWAS

In 2022, after two years of growth, there was decline in shipments abroad of cotton (carded or combed), when their volume decreased by X% to X tons. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton (carded or combed) exports shrank to $X in 2022. Over the period under review, exports, however, saw a measured expansion. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined in the following year.

Exports by Country

Mali prevails in exports structure, recording X tons, which was near X% of total exports in 2022. Benin (X tons) held a relatively small share of total exports.

Exports from Mali decreased at an average annual rate of X% from 2012 to 2022. Benin experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mali and Benin increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) remains the largest cotton (carded or combed) supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mali amounted to X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price, however, showed prominent growth. The pace of growth appeared the most rapid in 2019 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per ton), while Benin totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%).

Imports of Cotton (Carded Or Combed)

Imports in ECOWAS

In 2022, purchases abroad of cotton (carded or combed) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, saw a abrupt descent. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, cotton (carded or combed) imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X tons) was the main importer of cotton (carded or combed), mixing up X% of total imports. Niger (X tons) took the second position in the ranking, followed by Gambia (X tons), Ghana (X tons) and Togo (X tons). All these countries together took approx. X% share of total imports. The following importers - Mali (X tons) and Benin (X tons) - each resulted at a X% share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%), Gambia (X%) and Niger (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Mali experienced a relatively flat trend pattern. By contrast, Ghana (X%) and Benin (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Niger, Gambia, Togo, Nigeria and Mali increased by X, X, X, X and X percentage points, respectively.

In value terms, the largest cotton (carded or combed) importing markets in ECOWAS were Nigeria ($X), Niger ($X) and Togo ($X), with a combined X% share of total imports.

In terms of the main importing countries, Togo, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Niger ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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